Write a note on the functioning of WTO.

Explanation

The World Trade Organization (WTO) is an intergovernmental organisation dealing with the rules of trade between nations. Its main functions include: administering WTO trade agreements, providing a forum for trade negotiations, handling trade disputes, monitoring national trade policies, providing technical assistance and training for developing countries, and ensuring cooperation with other international organisations.


Trough negotiations among its member states, the WTO has established a system of agreements regulating international trade. The major treaties are the General Agreement on Tariffs and Trade (GATT) dealing with the trade in goods, the General Agreement on Trade in Services (GATS), and the Agreement on Trade-related Aspects of Intellectual Property Rights (TRIPS). Within this framework, the WTO deals with several Internet governance and digital policy related issues, including e-commerce, arbitration, liberalisation of the telecommunications markets, and trade in telecommunications services.



The WTO organises an annual WTO Public Forum, which brings together governments, non-governmental organisations, academics, businesses, and other stakeholders, for discussions on a broad range of issues pertaining inclusively to the digital economy.